Case Study

Investment Strategy Debate

During an executive meeting, two managers present opposing arguments regarding a $10 million investment decision. The firm can either spend the $10 million on new robotic assembly lines (Proposal A) or invest the same amount in a financial portfolio (Proposal B). Financial analysis projects that Proposal A will generate a future value of $12 million, while Proposal B will generate a future value of $11.5 million.

  • Manager 1 argues: "The initial $10 million cost is a significant expenditure. Since it's the same for both, we should choose Proposal A because owning tangible assets like machinery is inherently less risky and better for the company's long-term stability than holding paper assets."
  • Manager 2 argues: "The initial $10 million cost is irrelevant to the choice because it's paid either way. The decision should be based purely on which option is projected to create more future value for the firm."

Evaluate the two managers' arguments. Which argument provides the correct basis for making the decision, and why? Justify your answer by explaining the flaw in the incorrect argument.

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Updated 2025-08-09

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